USA Invoicing Current & Cumulative


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I am the financial manager for a non-profit. Several new customers want a column for current charges and a column for cumulative charges, which sounds easy enough. However, some insist that on the first bill the cumulative charges are $0. Others insist the cumulative and current are the same for this initial bill. And no one in the office can seem to agree.

What is correct? If it matters I am generally invoicing other non-profits as well as universities. Thank you!
 
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kirby

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If I buy something for $10, then my current charge is $10. Cumulative is the sum of charges so the first cumulative amount has to be $10 too. I think they are conflating the term "cumulative charges" with the term "prior balance".
And indeed, maybe your second column really should be "current balance" so you can show reductions in the balance due to payments received. Even so, the first 'current balance' amount will still be $10. But you could start the column with a zero before listing any current charges
And Good Luck to you trying to get this resolved...
 
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